Valuing $524.7 million in 2018, the transparent display market is projected to progress to $4,933.6 million by 2024, experiencing a CAGR of 46.2%
NEW YORK, Jan. 29, 2020 /PRNewswire/ --
Transparent Display Market Research Report: By Technology (LCD, OLED), Application (HMD, HUD, Smart Appliance, Digital Signage), Display Size (Small, Medium, Large), Resolution (UHD, Full HD, HD), End User (Industrial, Retail and Hospitality, Automotive, Aerospace and Defense, Transportation, Healthcare, Sports and Entertainment) - Global Industry Analysis and Forecast to 2024
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Valuing $524.7 million in 2018, the transparent display market is projected to progress to $4,933.6 million by 2024, experiencing a CAGR of 46.2% during 2019-2024 (forecast period). The organic light-emitting diode (OLED) category is expected to witness the highest CAGR during the forecast period, on the basis of technology. This is because OLED screens have self-illuminating pixels, which do away with the requirement for backlighting. Further, such products are aesthetically better than those based on the liquid crystal display (LCD) technology, which would further their growth in the market.
Interactive displays are trending in the transparent display market, with an increasing number of companies in the hospitality, retail, and automotive applications, adopting them. The retail sector uses them to present different products to potential customers in a more aesthetically appealing way, as these displays themselves are visually pleasing. Similarly, heads-up displays and navigation and infotainment screens are the various applications of such products in the automotive industry. Additionally, people can type the password on the screen to unlock their vehicles, especially luxury cars, which are witnessing an increasing integration of such technologies.
A major reason behind the progress of the transparent display market is the rapid adoption of these products in the advertising domain. Several firms, such as P&G and the Coca-Cola Company, are already using these products to promote their offerings. In 2018¬-19, Coca-Cola spent $5.8 billion, while P&G invested $6.7 billion in advertising activities, including the procurement of transparent displays. With many other food and beverage and pharmaceutical companies opting for such strategies, the market would continue prospering.
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